The dominance of Dogecoin and Pepe in the meme coin niche remained undeniable for a long time. However, their falls led to the fact that market participants began to concentrate capital in other similar assets. The next leading position may be taken by a new cryptocurrency SMOG. The project is in the early stages of development, which gives it more chances for success. In the material – about what forecast prepared by analysts for these altcoins. Readers will learn where to buy meme-tokens to avoid fraud and other risks.
SMOG price forecast for 2024 – low capitalization can bring early investors x100
The market for meme tokens developed on the Solana blockchain has been enriched with a new coin. The name of the cryptocurrency is Smog (SMOG). The altcoin debuted on the decentralized exchange Jupiter on February 7 and has already reached a trading volume of $1 million. Characterized by a transparent launch, the digital asset has prepared another reward for early adopters – coin giveaways.
Following in the footsteps of Solana-based meme tokens such as Myro, Bonk and dogwifhat, Smog aims to outperform its predecessors. According to a statement from the developers, traders can expect the largest airdrop on the blockchain. To participate, you need to purchase a SMOG asset and keep it in your wallet. This will help earn points before the free coin giveaway.
On the first day of trading, the altcoin grew by more than 900%. The history of the meme-token’s price movement emphasizes its success at the start and the growing interest in the project. So far, the market capitalization of the asset remains low. This gives more chances for multiple growth.
Low capitalization means that the market valuation of the coin is relatively low. In such cases, even a small investment can affect the exchange rate. Also, small capitalization often correlates with high volatility. This can create prospects for traders and investors to capitalize on short-term changes in SMOG’s value.
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As seen in the tokenomics, the team plans to list the asset on several other leading exchanges besides Jupiter in the coming months. The listings on DEX and CEX are allocated 15% of the total 1.4 billion SMOG. The move is expected to increase the token’s presence in the market and attract new investors, thereby increasing the liquidity, demand and value of the coin. One prominent crypto expert predicts 100x growth of the asset in 2024.
Dogecoin price forecast for 2024 – whether to expect growth to $1
The most famous meme cryptocurrency could be heading for a bullish 2024 after an increase in the number of new network addresses. However, Dogecoin (DOGE) will have a tough time this year because it has a competitor – Smog (SMOG). Participation in the Solana ecosystem combined with a generous airdrop strategy puts the new meme token in a winning position in the crypto market.
According to data from the Santiment portal, a total of 413,800 addresses have been created in the last two weeks, mostly with balances between 0.001 and 1 DOGE. This increase has the potential to be an indicator of the cryptocurrency’s price growth, as the registration of new wallets may suggest a renewed interest from investors.
Moreover, the Dogecoin network has reached an all-time high hash rate, and its growth has not stopped since the beginning of 2023. However, this optimism comes with challenges, as noted by a Dogecoin community member under the pseudonym Tdogewhisperer. He explained that while the ecosystem has processed around 1.9 million transactions and a new record has been set, the network has become overwhelmed.
Expert Criss Pax notes that technical analysis of Dogecoin market activity shows positive signs, including increased usage and trading volume. In particular, the integration of DOGE into X to make payments will also benefit the coin. The expert describes 2 scenarios: without the meme token’s participation in X, the price could reach about $0.2 by the end of the year, and thanks to the integration – soar to $1.5 or even $2.
Pepe price forecast for 2024 – will the legendary meme-coin recover
The digital asset saw a 27% drop in January. However, Pepe Coin’s (PEPE) recent 4% rise is giving crypto investors hope. Despite the decline in value, technical indicators show an optimistic outlook for the coin. In particular, a “right shoulder” has appeared on the PEPE chart, which forms an uptrend for the token.
Traders rely on various patterns to make decisions about buying or closing positions. One of these is the “Head and Shoulders,” or Head and Shoulders. This pattern is generally considered a trend reversal indicator.
“Head and Shoulders” signals a possible transition in the price of an asset. It consists of 3 main parts:
- Left shoulder – completion of the previous trend.
- Head – change of trend.
- Right shoulder – confirmation of pattern formation.
Thus, the PEPE coin may have a bullish 2024. Moreover, cryptanalysts believe that meme token has chances to rise to a new price level – $0.0000019.
Completion
Meme coins can generate revenue faster than other cryptocurrencies. This has already been proved by the altcoin Pepe. During the first 2 weeks of trading, the asset brought traders a profit of 20,000%. The same happened with many other meme tokens.
Despite the popularity of such digital assets, investing in them carries risks ranging from high volatility to buying coins from fraudsters. For this reason, along with researching promising tokens, traders should also investigate places to purchase them to avoid falling victim to crypto scammers:
- Official presale pages. This means that an investor can get the coin at a discount compared to purchasing it on a trading platform.
- Centralized exchanges. For example, MEXC and OKX.
- Decentralized platforms. Some meme tokens, such as SMOG, can only quote on DEX for a certain amount of time. To buy this coin on such an exchange, you’ll need a Web3 wallet and a cryptocurrency to exchange.
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Author: Saifedean Ammous, an expert in cryptocurrency economics.
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